As a result of the decrease in world prices for soybeans, the prices in Ukraine also actively decreased in February.
Market participants remember that at the end of January processors purchased soybeans at a price of more than 435€ /t. Now at the end of February the price do not exceed 399€/t.
In February, Ukraine exported 290,000 tons out of the contracted volume of 300,000 tons. It is difficult for traders to sell Ukrainian soybeans for export because of the high price. The main markets for Ukraine, which traditionally account for 50-60% of exports are Türkiye and Egypt. But now the prices on these markets for Ukrainian soybeans are the same as Brazilian, while usually Ukrainian soybeans are 10-15 USD/t or 9-13 EURO cheaper. So the prices of Ukrainian soybeans will continue to move down.
Experts predict that prices for soybeans with delivery to Romania border may drop to 390 USD/t(359€) the end of March. Currently it can reach the level of up to 420 USD per ton (387€). Processors also reduced purchasing prices to the range of 399-406€/t. Evidently, by the end of March the price reduction may reach 399€/t.
Another factor supporting the decrease in prices for Ukrainian oilseeds is the decrease in prices for soybean meal in the EU. In addition, Poland used to be the main importer, but now this country is not the best trading partner.